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Section 44ADA — Presumptive Tax
Freelancers and notified professionals (legal, medical, engineering, architecture, accountancy, technical, consulting, IT) can declare 50% of gross receipts as taxable income, no books required. Receipts cap: ₹75 lakh (₹50L if cash receipts > 5%).
₹20,00,000
Taxable income (presumed)
₹10,00,000
50% of gross receipts
Eligible. Receipts ≤ ₹75 lakh (raised from ₹50L in Budget 2023, with ≤5% cash receipts).